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It was made by Cartier – one of the finest and most expensive jewellery makers in the world and a favourite of movie stars and royalty including the Duchess of Cambridge and Princess Diana.

Graham Tom, a fourth generation diamond specialist and registered valuer based in London’s world-famous Hatton Garden, told the Mail Online the ring looks like it dates from the 1960’s or 1970’s and may have been owned by a film star.

He said: ‘I would have thought it may lend itself to that Richard Burton Elizabeth Taylor type glamour period of the 1960’s.

'The simplicity of design showcasing the emerald cut diamond can typify that sort of period.’

Mr Tom said the diamond appeared to be of the highest quality and could be up to 20 carats in weight.

The diamond ring was donated anonymously to the British Museum in central London. Experts said a the ring could have been owned by a film star and looks like it dates back to the era of high glamour of the 1960s and 1970s

Accounts slipped out by the Department for Digital, Culture, Media and Sport, slipped out news of the missing ring in their annual accounts

He said the history and prestige of Cartier – A Parisian jewellery house which dates back to the mid 19th century and described by King Edward VII as the ‘jeweller of kings and king of jewellers’ – will add to its value.

He said: ‘This is a significant sized stone, and this is synonymous with Cartier – they stock the finest diamonds of very high quality.

‘In general, I find Cartier pieces do fetch more in the auction rooms than say some of the other branded houses of Bond Street, mainly because of the provenance and prestige of the jewellery house, dating back to the mid 19th century.’

A spokeswoman for the British Museum told the Mail Online: ‘The ring was found missing from its proper location by British Museum staff in August 2011.

Eizabeth Taylor, pictured with her then husband Richard Burton. She was well known for her love of diamonds and had a world famous collection of jewellery. Diamond expert Graham Tom said the missing ring reminded him of the sort of jewellery the actress wore

The Duchess of Cambridge is fond of her Cartier Ballon Bleu watch, which she was pictured wearing while on a trip to a school in Ealing in London in February 2014

‘It was reported at the time to the director and board of trustees and the police, who did not take the matter further.

‘Thorough searches were undertaken at the time and subsequently.

'British Museum procedure, as agreed by trustees, requires the ring formally to be reported as lost five years after the initial discovery of its absence.

‘The museum takes the security of the collection extremely seriously.

'The museum has since reviewed its security and collections management procedures and dedicated significant investment to improved security across the estate.